S&P dropped Italy's government debt a notch, pointing to weak economic growth and political divisions that could make it harder to resolve its debt problems. Prime Minister Silvio Berlusconi shot back with a statement saying the move was "dictated more by newspaper articles than by reality."
Dozens of anti-government protesters have died in Yemen over the last two days, when loyalist security forces opened fire on the main square in the capital, Sanaa. It has been one of the most violent periods in Yemen's nine-month uprising — which has otherwise been largely peaceful. Les Campbell, who runs the Middle East and North Africa programs at the National Democratic Institute, talks to Steve Inskeep about the political wrangling over the future of the country.
President Obama's call for $1.5 trillion in tax hikes to reduce the deficit puts him on a collision course with congressional Republicans. Some of Democratic supporters may welcome Obama's newly combative negotiating style, but deficit watchdogs warn his plan falls short in key areas.
British carmaker Jaguar Land Rover has announced it is investing more than $500 million in a new British plant to build fuel-efficient, four-cylinder engines. And the company's Indian owner Tata Motors says it plans to pour more than $2 billion a year into Jaguar Land Rover over the next five years.
As Spain struggles to cope with its national debt, the socialist government there is turning to some extreme measures. It's auctioning off state industries, like airports and the national lottery. The government is hoping to generate enough cash to avoid asking the E.U. and International Monetary Fund for a bailout. But as Lauren Frayer reports from Madrid, selling off state assets is not the most straightforward solution.
The Japanese company Sony has had a tough year. It's endured a string of attacks from hackers, earthquake damage and lower earnings and profits. Now the company has released a new product: Tablet S. David Greene talks to Bloomberg tech columnist Rich Jaroslovsky about what the success of the computer tablet would mean for the one-time king of consumer electronics.
A television ad running in upstate New York has been warning residents that the state's water supply is headed for ruin.
"New York tap water has always been the best in the world," it says. "In places where gas companies are already using a dangerous process called fracking, like Pennsylvania, the water is cloudy and full of toxic chemicals."